Central Bank of India has reduced its marginal cost based lending rate (MCLR) across all tenors. For overnight and one month maturities, the rate has been revised to 7.80 per cent and 8.10 per cent respectively, while for three month maturities the rate has been reduced to 8.20 per cent. The new MCLR rate for six month and one year is 8.25 per cent and 8.30 per cent respectively. The new MCLR rates are effective from 1st September, 2017.

2017-08-03 :Central Bank of India organises gold loan awareness event

The Central Bank of India has organised an awareness programme towards gold loan in its premises located in Bhopal. The bank has conducted the event to spread awareness among the masses about the easy availability of gold and loans taken against it. As per the bank’s available data, gold loans of Rs. 8 crore have been disbursed in Madhya Pradesh region.

Public sector lender, Central Bank of India has registered a lower loss at Rs. 577 crore during the current quarter of FY18 as compared to Rs. 600 during the corresponding quarter of the previous fiscal year. Lower burden of loan loss provisioning and income tax refund has helped the bank to report the lower loss in the current FY18 as compared to the previous year.

Reserve Bank of India (RBI) has initiated a prompt corrective action (PCA) against Central Bank of India after evaluating its high non-performing assets (NPAs) and negative return on assets (RoAs). The action taken by RBI will help in improving the financial health of the bank by reducing its stressed assets and bad loans.

2017-04-10 :Central Bank of India customer wins Rs. 1 crore

A Central Bank of India customer has won a lucky prize of Rs. 1 crore under a government scheme to promote cashless transactions. The identity of the winner has not been made public. The lucky winner had made a transaction of Rs. 1,590 using the RuPay debit card, and his transaction number was selected for the first prize. PM Narendra Modi will felicitate the prize to the lucky winner on April 14, 2017.

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